Thinking of leaving Cybertrader

Discussion in 'Retail Brokers' started by sasha1, Sep 26, 2001.

  1. sasha1


    I have been with them for a couple of months now. Although I am reasonably happy with the firm and their software, my introductory commission of 9.95 per trader (+ECN fees) will soon run out. I make about 200 trades/month on ~350,000 shares. The regular Cybertrader fee starting next month will be 14.95 per trade. Last month I think my commissions alone were close $3,500. This means my commisions will go up to $5,000/month. Does anyone have any suggestions of a firm that has established reputation and comparable DAT software platform?

    I looked at Hold Brothers and Tradestation Pro as alternatives, but they are not much cheaper. Others, like Mb-trading, are even more expensive. Ideally I would like to pay either 9.95/trade or 0.1/share.

    Any suggestions would be really appreciated.

  2. I would suggest you consider using Interactive Brokers for execution at .01/share or 7.50/1000 shares. You could then buy whatever software/services you want to use or keep enough money in you Cyber account to access their support (maybe they have a minimum number of trades though - still, you could pay a fee for the charts and still be $ ahead I think).
  3. vikana

    vikana Moderator

    I went through exactly the same decision in january. CyberTrader has decent software, but it's simply too expensive to learn to trade with $15 commisiion.

    I don't know about you, but I insisted on trading 100 to 200 share lots until I consistiently proved profitable.

    I recommend switching to Interactive Brokers. Great commision structure of 1cent per share. For graphing get either eSignal, or one of the many other choices.
  4. IB is the obvious choice, especially if you usually trade in lots of less than 1000 shares. Keep in mind though that their list of stock available to borrow can be a problem. It's debatable whether what I've saved in commissions I haven't lost in winning short trades I couldn't enter.

    Missed an easy two points each in ACS and VSNX today because they weren't available. Apparently VSNX was a hard locate for others too though.
  5. sahsa

    i was with cyber for about a year and a half.. somehow their quote server stopped allowing me to connect to their computer and after a few days on the phone with their tech dept i decided to switch to IB.. my primary concern was that IB would be too cumbersome to use, but with Supersoes, IB executes just as fast as cyber and IB is much faster for changing orders.. just for kicks i loaded all of my trade data for one year into a spreadsheet and did a trade cost comparison between what i paid cyber and what i would have paid IB.. the difference was over 70,000.. obviously, i am saving a significant amount of money..

    as far as charts.. i am using qcharts and ravenquote.. the entire setup costs about 150 a month.. but the way i see it.. i take 70k, subtract 150 a month and next year im driving a new porche =)..

  6. Hi Sasha

    Have u ever considered using Cybercorps' other platform called Cyberx2 ?? Ive used it for the last couple of years and no problems. I use a combination of Aspen Graphics and Quicken Quotes for my data feed. Another company I would recommend is They are a realtick based broker and i believe has the best rates for that platform. The cheapest company i could recommend is . I remember when i started trading, the average cost of Edat transaction was 23.95. Close to 48 bucks round trip. So, im thrilled to be paying 10 bucks a pop.

  7. Open an account at IB for your smaller lot trades . Get the
    Cyber-x platform if you stay with Cyber Corp . For a quote service use either e-signal or Nextrend . I have used both and currently use Nextrend. The feed on E-signal is a bit better but Nextrend has better charts . only reason I switched from E-sig was because of cost , I was not going to sign up for a year and the month to month with Nextrend was cheaper.
    I used the Cyber -X platform for 2 years , its great when used with another level II charting service . I also opened an account at MB trading but have not used them yet.
    IB has fast fills on the ecn books , the software takes some getting used to and is not great for fast scalps especially if you have to cancel and re enter your order( you can make changes to the order with out cancelling however) . You can't beat the commissions. I have used them for a month and everything has been good .
    I was doing over 100 trades a month with Cyber and was at the $ 9.95 a trade commission . I used to trade 1000 share blocks and was a bit to nervous with that share size. So now i trade between 300 and 500 shares and save a lot with IB . I opened the Mb trading account for the larger shares sizes which I will do less often.
    Just a note , Ib has lousy customer service , Cyber as you know is great in that area , so is MB .
  8. I switched from CyberTrader to IB a little over a year ago. I saved over $20,000.00 in commissions. I find there fills to be just as good as Cyber. There software takes a little getting used to, but once you get the hang of it, it's Ok. For $20,000.00 I can put up with the software. However, if you are new or are the type who needs someone to hold your hand IB is not the place for you. I have never had to call them about anything as yet and that is the way I like it with a broker. All I want is fast and accurate exacutions.
  9. lmann25


    IB offers the lowest commissions anywhere but has no developed level II for nasdaq trading....cybers simulator looks great... detailed level II
    .. any software bugs in cyber?
    any opinions on the latest cyber software?

  10. hans130


    If you want to pay cheaper commissions and use reliable software i would recommend them. Their platinum product is unbelievable. Something i would highly recommend, switching from the watcher.

    #10     Mar 12, 2002